Gold prices stability

Gold prices stabilized today, in light of the concern of dealers that US President Donald Trump’s plans to impose wide anti -customs duties to fuel inflation and impede economic growth.

Gold settled in instant transactions at $ 3019.72 an ounce by 03:28 GMT. US gold futures fell 0.1 percent to $ 3023.60.

“There are real concerns about American economic growth as well as inflation. The United States is likely to face inflation accompanied by recession, which may support prices,” said Sony Kumari, an initial commodity analyst in AN.

The confidence of American consumers has decreased to its lowest levels in more than four years in March, as families are afraid of recession in the future and high inflation due to customs duties.

The market is experiencing some tension with attention now on the anti -customs duties that the US administration may impose on April 2.

Trump’s policies related to customs duties are likely to increase inflation, which may result in slowing economic growth and increased intensity of trade tensions.

Gold, which is usually seen as a hedge in the face of geopolitical and economic blurring, increased by 15 percent since the beginning of the year, and recorded its highest level ever at $ 3057.21 on March 20.

The markets are awaiting data for personal consumption expenses in the United States, which are issued on Friday to obtain indicators on the following moves of the Federal Reserve (US Central Bank).

“We expect (the price of gold) is $ 3200 by September,” Kumari said, adding that any suspension tends to tighten the Federal Reserve may be a factor that hinders the height of the yellow metal.

For other precious metals, silver in instant transactions fell 0.2 percent to $ 33.69 an ounce, and platinum fell 0.1 percent to 975.45 dollars. Palladium fell 0.3 percent to $ 953.45.